Diamond Foods, Inc. ( DMND ) saw a big move in the last trading session, as the company's shares fell by nearly 11% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $30.20 to $33.23 in the past one-month time frame.
This slump shouldn't be too much of a surprise to investors, as the packaged food company has seen 1 negative revision in the past few weeks and its current year earnings consensus has also moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
DMND currently holds a Zacks Rank #4 (Sell).
Investors interested in the Food industry may consider better-ranked stocks like Aramark ( ARMK ), The Hain Celestial Group, Inc. ( HAIN ) and Inventure Foods, Inc. ( SNAK ), each of which holds a Zacks Rank #2 (Buy).
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